News

A handful of digital addresses at only five exchanges were largely responsible for driving the total volume of cryptocurrency laundered globally nearly 70 percent upwards from 2021 to 2022, Chainalysis, a blockchain analytics firm in New York, reported Thursday. Outflows of cryptocurrency from addresses tied to criminal activity, a strong indicator of money laundering, reached nearly $21 billion last year, up from $14 billion in 2021, Chainalysis found. Like previous years, the lion's share of that cryptocurrency ended up at centralized exchanges where customers can convert digital assets into cash, and vice versa. Those numbers constitute "lower bound estimates" of...